MANUAL FOR NATURAL GAS TRADING MARKET PARTICIPANTS€¦ · pages are organised into categories: data, M‐GAS and messages. We will analyse these pages in the following paragraphs

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MANUAL FOR NATURAL GAS TRADING

MARKET PARTICIPANTS TABLE OF CONTENTS

TABLE OF CONTENTS .......................................................................................................................................................... 1

INTRODUCTION .................................................................................................................................................................. 3

TYPES OF USERS .................................................................................................................................................................. 3

FEATURES OF THE PORTAL ................................................................................................................................................. 3

REGISTRATION WITH THE PORTAL ................................................................................................................................. 3

AUTHENTICATION ........................................................................................................................................................... 4

HOME PAGE .................................................................................................................................................................... 5

USERS AND PARTICIPANTS.......................................................................................................................................... 5

MENU .......................................................................................................................................................................... 6

MULTI‐LANGUAGE SUPPORT ...................................................................................................................................... 6

“PARTICIPANTS’ PAGE” ................................................................................................................................................... 6

“USERS’ PAGE” ................................................................................................................................................................ 6

SIGNATURE CERTIFICATE MANAGEMENT ...................................................................................................................... 7

SIGNATURE SUPPORT SET‐UP ..................................................................................................................................... 7

ADDITION OF A NEW SIGNATURE CERTIFICATE........................................................................................................ 12

INTRODUCTION TO THE MARKETS AND DYNAMICS OF THE SESSIONS ........................................................................ 14

PAGE OF SESSIONS ........................................................................................................................................................ 14

STATUS OF SESSIONS ................................................................................................................................................ 17

MANAGEMENT OF BIDS/OFFERS IN THE M‐GAS .............................................................................................................. 17

ORDER BOOK ................................................................................................................................................................ 17

OPEN ORDERS ............................................................................................................................................................... 21

DAILY ACTIVITY ............................................................................................................................................................. 22

SOME CONSIDERATIONS ON BIDS/OFFERS .................................................................................................................. 23

BID/OFFER PAGE ........................................................................................................................................................... 23

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SUBMISSION OF BIDS/OFFERS ...................................................................................................................................... 24

STATEMENT‐OF‐ACCOUNT PAGE.................................................................................................................................. 25

TRADES ......................................................................................................................................................................... 26

MESSAGES ........................................................................................................................................................................ 26

UPLOAD OF XML MESSAGES ......................................................................................................................................... 27

LIST OF MESSAGES ........................................................................................................................................................ 27

FILE WITH RESULTS FROM MARKET EXECUTION .............................................................................................................. 28

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INTRODUCTION

This manual describes the options that the “Natural Gas Exchange” portal makes available to Gas Market (M‐GAS)

Participants. The manual shows the pages posted on the portal and the sequence of transactions that users may

execute.

TYPES OF USERS

The portal manages two types of users, in addition to the usual administration roles:

‐ user: conventional user who may access the main features of the system and enter transactions on behalf of

the Participants who have authorised him/her;

‐ viewer: user who is not authorised to enter transactions into the system and who may thus access the portal

in read‐only mode.

These users may also access the PB‐GAS, or only the M‐GAS.

The following pages will only refer to “users”, i.e. to those who play an active role on the portal.

FEATURES OF THE PORTAL

The following is a description of the features which are common to all Participants. First of all, you must register with

the portal, so as to provide your credentials and be authorised to operate on the platform.

REGISTRATION WITH THE PORTAL

Go to the https://provegas.ipex.it/GasWebSite/Register.aspx page and submit your credentials. When you try to

access the page, you will get a pop‐up window (Figure 1). On this window, you may select the certificate to be used for

future authentication with the portal. Select one certificate and click on Ok.

Figure 1: selection of authentication certificate

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Figure captions

Select digital certificate

Identification

Identify the website that you wish to view

Name – issued by

Further information – view certificate

OK ‐ cancel

In the page shown below, you may enter your key data for registration, i.e. your name and surname and the

registered name/company name of the Participant with whom you are associated. You may also add textual notes to

your identification data.

Figure 2: entry of key identification data

Figure captions

REGISTRATION DATA

Name

Surname

Market Players/Participants

Remarks

Submit

After filling in the required fields, click on “invia” (submit) to enter your request into the system. You will receive a

message about successful or unsuccessful completion of the request.

AUTHENTICATION

Authentication with the portal takes place through a client authentication certificate.

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After authentication, you will retain the credentials to operate on the portal until the session expires or is explicitly

closed.

HOME PAGE

Figure 3 displays the home page of the portal. From the home page, you may access the different features of the

system.

Now, let us examine the four main sections of the page, numbered 1, 2, 3 and 4. The top right section (1) shows the

data of the authenticated user (username and role). The user may quit the portal by clicking on Logout. After closing

the session, the user must authenticate again in order to access the features of the portal.

Figure 3: home page of the portal

Figure captions

Home

Data/Participants ‐ Users ‐ Signature management ‐ M‐GAS sessions

M‐GAS/bids/offers ‐ entry of bids/offers ‐ statement of account

Messages/upload – list of messages

USERS AND PARTICIPANTS

Section (2) in Figure 3 shows a drop‐down menu with all the Participants who have authorised you as a user. All

transactions are entered into the system in the name of the currently selected Participant.

1

2 3

4

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MENU

Section (3) in Figure 3 shows the menu with the links to all the pages that you may access with user privileges. These

pages are organised into categories: data, M‐GAS and messages. We will analyse these pages in the following

paragraphs.

MULTI‐LANGUAGE SUPPORT

In section (4), you may select the language of the portal, i.e. Italian or English. All the pages will be displayed in the

selected language. By changing the language, you will not only change textual parts, but also the date format, in

Italian (it‐IT) or English (en‐GB), and the decimal separator for figures: comma (“,”) for Italian and point (“.”) for

English.

“PARTICIPANTS’ PAGE”

In the “data” section of the left‐hand menu, the first link points to the Participants’ page, in

Figure 4. The page shows all the Participants who are currently authorised to operate on the platform.

Figure 4: Participants authorised to operate on the platform

Figure captions

Home

Data/Participants – Users ‐ Signature management ‐ M‐GAS sessions

M‐GAS/Bids/offers

Registered name/company name – Participant’s code

By clicking on export, you will export the data of the table to an Excel file.

“USERS’ PAGE”

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The second link opens the Users’ page, on which you view all the users authorised to operate on behalf of the

Participant selected in the drop‐down menu. For each user, the following data are shown: user code, name, surname,

role, any authentication certificate, any signature certificate, the Participant who has authorised the user, the

privileges that the Participant has on the platform and the page refresh time.

Figure 5: users authorised by the selected Participant

Figure captions

Home

Data/Participants – users – signature management – M‐GAS sessions

M‐GAS/Bids/offers – submission of bids/offers – statement of account

Through the filter, you may refine the search in order to retrieve parts of text in the text fields. Click on refresh, if you

wish to update the table, including possible filters.

SIGNATURE CERTIFICATE MANAGEMENT

To use a signature certificate, you must set up your computer in order to support software certification, as explained

later on.

SIGNATURE SUPPORT SET‐UP

To authenticate with the portal and sign the content of messages, you must install a plug‐in which supports certificate

activities. First of all, download the installation file from GMECabs/GMECabs.exe.

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Figure 6: Plug‐in download

Figure captions

Some files can harm your computer. If the file information below looks suspicious, or you do not fully trust the source, do not open or save this file.

File name: …

File type: Application

From: …

This type of file could harm your computer. Would you like to open the file or save it to your computer? Open ‐ Save ‐ Cancel ‐ More Info Always ask before opening this type of file

After completing the download, save the file without running it (Figure ). Save the file in any directory, e.g. c:\plugin.

Figure 7: saving of installation file

Figure captions

Save in: plugin

My recent documents

Desktop

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My documents

My computer

My network

File name: GME Cabs

Save as type: Application

Save ‐ Cancel

After saving the file, open an MS‐DOS prompt window. On Windows Start menu, click on Run and enter cmd.

Figure 8: launching of MS‐DOS window

Figure captions

Run

Type the name of a program, folder, document, or Internet resource, and Windows will open it for you

Open

OK – Cancel ‐ Browse

Now, go to the directory where you have saved the installation file (e.g. c:\plugin) and enter cd c:\plugin.

Figure 6: access to the installation file directory

After entering into the c:\plugin directory, run the GMECabs.exe file, by entering GMECabs.exe, as shown in Figure 7: Running of GMECabs.exe

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Then, confirm the directory where the files will be extracted (e.g. c:\plugin).

.

Figure 7: Running of GMECabs.exe

Then, confirm the directory where the files will be extracted (e.g. c:\plugin).

Figure 8: directory where the files will be extracted

Finally, access the GMECabs subdirectory by entering the cd GMECabs command and run the .bat file as shown in

Figure 10: r.

Figure 9: access to the GMECabs directory

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Figure 10: running of the .bat file.

Now, you may register with the system with your own certificate.

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ADDITION OF A NEW SIGNATURE CERTIFICATE

By clicking on gestione firma (signature management), you access a page on which you may manage your signature

certificate. If you have no signature certificate, the page will be as shown in Figure 11: trough the Aggiungi (add) link,

you may add a certificate.

Figure 11: the user has no signature certificate but may add one on this page

Figure captions

Signature certificate management

No certificate of signature has been configured

Add

More info about the signature component

By clicking on Aggiungi (add), you may select the certificate that you wish to use (to sign the transactions to be

entered into the system) among the ones installed in your computer. See Figure 12.

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Figure 12: entry of new certificate

Figure captions


No certificate of signature has been configured

Add


After selecting the certificate, its details will be shown on the page. At this stage, you have to confirm the entry of the

certificate, by clicking on Salva (Save).

Figure 13: details of certificate being entered

Figure captions


The signature certificate has been configured

Issuer….


After entry, the certificate must be authorised by the portal administrator in order to be used in the transactions.

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INTRODUCTION TO THE MARKETS AND DYNAMICS OF THE SESSIONS

The M‐GAS portal enables authorised Participants to take part in the market sessions, called Day‐Ahead Market (MGP)

and Intra‐Day Market (MI). The difference between the two markets lies in the evolution of their sessions. In both the

MGP and MI, when a new session is opened, the first stage is the BOOK stage. In this stage, bids/offers are entered

under the continuous‐trading mechanism and authorised Participants may access a page showing the order books of

the open sessions (page 18). From this page, Participants may access a pop‐up window for bid/offer submission and a

page of open orders, through which they may manage the bids/offers already entered but not yet fully matched (page

19). During the BOOK stage, a Participant may be revoked from the “Punto di Scambio Virtuale” (PSV – virtual trading

point). In this case, the system will reject any bids/offers submitted after revocation. Also the already submitted

bids/offers (in the “submitted”, “matched” and “hidden” statuses) will be “invalidated” and the related matchings, if

any, will be cancelled. This means that the bid/offer of the counterparty to the cancelled matching will be “discarded”.

If the bid/offer of the counterparty has been matched also with bids/offers of other Participants who are still

authorised for the PSV, then the system will keep the bid/offer. In case of single matching, the bid/offer will be

identified as “discarded”.

Both Participants involved in the cancelled matching will receive a new BN (page 26), indicating that the matching has

been cancelled.

After the end of the BOOK stage, the two markets MGP and MI will become differentiated. The MI will end and its

results will be confirmed. The MGP will pass to an implicit‐auction stage, in which Participants authorised for the PSV

submit demand bids and supply offers, which are then matched (or discarded) at the end of the session. At the end of

this stage, the valid bids/offers which have not yet been matched or have been partially matched during the BOOK

stage of the MGP will pass to the implicit‐auction stage. Anyway, the Participant who has entered them may change or

withdraw them on the bid/offer submission page shown on page 18.

PAGE OF SESSIONS

You may access the list of the sessions through the homonymous link in the Informazioni (Data) section. Through this

link, you may check the status of the sessions corresponding to the available market days. In particular, you may filter

the page from the drop‐down menu for the type of market (Day‐Ahead Market – MGP, Intra‐Day Market – MI).

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Figure 14: list of M‐GAS sessions

Figure captions

Session ID – date ‐ opening – closing – market – status

… completed – market results – graph

continuous trading – implicit auction

…. BOOK

… open

Only when a session is in the “Completata” (completed) status, for the MGP, you may view the market results. These

results are divided into two areas: the one for the implicit auction and the other for continuous trading.

‐ Sell qty: total volume to be sold;

‐ Buy qty: total volume to be purchased;

‐ M. price: marginal price determined by the market algorithm;

‐ M. qty: marginal volume determined by the market algorithm;

The continuous‐trading area includes:

‐ Max price: maximum price entered into the order book;

‐ Min price: minimum price entered into the order book;

‐ Ref price: reference price;

‐ Volume: volume traded.

As is obvious, the implicit‐auction area is not displayed for the Intra‐Day Market.

By clicking on export, in the top right section, you may export the list to an Excel file.

When the status of the MGP session is completed, the table will show two links: from the first, risultati di mercato

(market results), you may access another page where you will find a table (figure below) with the details of the session

(market results and net position of Participants who are associated with the currently connected user and who have

carried out transactions in that session); from the second link, grafico (graph), you may view the demand/supply curve

and the possible matching point (Figure 19). You will see the graph only when not all of the above results are null.

Conversely, for the MI, the only available detail is the risultati di mercato (market results) link.

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Figure 18: example of table with market results

Figure cations

Registered name/company name – Participant’s code – date – volume

Figure 19: curve with demand/supply matching

Figure captions

Graph

Supply offers – demand bids – price – accepted volume

Price

Cumulated volume

Flow date/market/opening/closing

Purchase: …/gas‐day

Volume to be sold: …/gas‐day

Marginal price: … /gas‐day

Volume traded: …/gas‐day

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STATUS OF SESSIONS

The following are the various statuses of the sessions:

‐ Open: only for the MGP; in this session you may enter bids/offers for the implicit‐auction stage;

‐ Book: the session is in the continuous‐trading stage; you may enter bids/offers only through the order book;

‐ Closed: you are not allowed to enter new bids/offers;

‐ Completed: Participants may view the results of the session.

MANAGEMENT OF BIDS/OFFERS IN THE M‐GAS

You may enter demand bids or supply offers and view the listing of bids/offers.

To enter bids/offers, you must register your certificate of signature.

ORDER BOOK

If the session is in the BOOK status, you may enter bids/offers from the order book page.

Whatever the market (Day‐Ahead or Intra‐Day), to enter a valid bid/offer, you must select a Participant from the drop‐

down menu and click on the order book area of interest: if you wish to enter a supply offer (without a demand bid

being present), click on the box at the crossing between the row of the market involved and the column of the price of

the purchase section. Conversely, for a demand bid (without a supply offer), the price column becomes the one of the

sale section.

If a bid/offer already exists and is displayed in the order book, click directly on the price value to open the pop‐up

window showing the data for full matching (or partial matching by changing the data).

Figure 23 facilitates the understanding of the above‐mentioned sections.

Figure 23: order book

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Figure captions

Purchase – sale

New bid/offer – volume – price

Intra‐Day Market

Day‐Ahead Market

‐ 1: By clicking on this box, you enter a supply offer into the Intra‐Day Market;

‐ 2: from here, you enter a demand bid into the Day‐Ahead Market;

‐ 3: by clicking on the price 65, you open the pop‐up of the in‐depth order book in order to match (full match

by default) a demand bid and possibly change the values;

‐ 4: as above but for a supply offer.

The following two figures compare the two pop‐up windows for bid/offer entry.

Attention: demand bids submitted into the order book are subject to guarantee verification.

Figure captions

(left)

New bid/offer details

Seller

Participant

Type of bid/offer: sale

Submit the bid/offer

by clicking on the

empty box of the order

book

Submit the bid/offer by

clicking on the price of

an already existing

bid/offer

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Product :

Market:

Flow date:

Volume

Price – unlimited price

Details – calculate

Cancel – submit

(right)


Seller

Participant

Type of bid/offer: purchase

Product :

Market:

Flow date:

Volume



Cancel – submit

There are two other ways to enter bids/offers into the order book: by clicking on nuova offerta (new bid/offer) (5),

you will open a pop‐up window to make entries similar to the above‐mentioned ones. The difference is that, in the

drop‐down menu, you must specify the market of interest and the type of bid/offer (Figure 24); or you may directly

click on the date of the market of interest (6); however, in the related pop‐up window, you must specify the type of

bid/offer (Figure 25).

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Figure 24 Figure 25

Figure captions

(left)


Participant

Session


Product :

Volume:



Cancel – submit

(right)


Participant


Product :

In the figure on the left side,

you must specify the type of

market and the type of

bid/offer.

In the figure on the right side,

you must specify only the type

of bid/offer.

If (after entering volume and

price) you click on the

“calculate” button, you will

get a preview of the price to

be paid and of the related

value.

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Market:

Flow date:

Volume



Cancel – submit

The order book page refreshes automatically every ten seconds. Therefore, after signing and completing the

submission, you will get it in the order book after a few seconds.

In any case, if the bid/offer does not appear after ten seconds, a problem may have arisen: check the output message

generated by the system in the list of messages.

OPEN ORDERS

You may change the status, volume and price of bids/offers that you have entered upon submission.

To do so, go to the open order page, which shows the summary of all bids/offers entered by the Participant selected

from the drop‐down menu. On this page, as indicated above, you may click on “modifica” (change) in the last column

and open the pop‐window to change the price and volume of the bid/offer concerned.

In the first column of the table, you will see check‐boxes: by checking the boxes, you will automatically select the

associated bids/offers and you may hide the bid/offer (if it is in the “submitted status), view it (if it has been

previously hidden) and withdraw it.

Finally, the page filter enables you to select the results by choosing between demand bids or supply offers.

Figure 26: list of changeable bids/offers

Figure captions

Product – vendor – volume – type – price – value – date – bid/offer ID – Participant – market – flow date – status – change

Type: SELL

Status: submitted

Change: change

Hide – Show ‐ Withdraw

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Any of the above actions generates a system message (in the list of messages), permitting you to check whether the

action has been successful.

DAILY ACTIVITY

The daily activity table summarises the bids/offers of the order book which have been entered, matched, revoked, etc.

for a given Participant selected from the drop‐down menu.

The main columns of this table are those of the product, the bid/offer and the session. In particular, you may activate

a filter by date (start and end of the time range for the search), flow date (for the market day), some IDs (bid/offer,

matching and message), type of market, seller, transaction and product.

Figure 20: daily activity table

Figure captions

Start date – type of transaction (all) – user code

End date – seller/vendor – matching ID

Flow date – transaction (all) – product name

Bid/offer ID – message ID – market code

Product ‐ market code – volume – price – value – date – Participant – user ‐ type of transaction – transaction – status – bid/offer ID – matching ID –

error

… root – purchase – submitted – submitted

… root – sale – submitted – submitted

… root – sale – submitted ‐ submitted

Initially, the filter is set to search among bids/offers with a time range equal to the current date. Therefore, you may

change the filter values based on your requirements.

Like on all other pages, you may export this table to an Excel file by clicking on export.

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SOME CONSIDERATIONS ON BIDS/OFFERS

For the implicit‐auction stage in the MGP, bids/offers may be of three types: simple, multiple and predefined. Simple

bids/offers are identified by price, volume and type (supply offer or demand bid). Multiple bids/offers are sets of

simple bids/offers. Conversely, predefined bids/offers are taken over by the matching algorithm in the sessions where

the Participant concerned has not entered simple (or multiple) bids/offers.

The maximum number of multiple bids/offers which may be submitted is limited. The limit is now equal to 4 valid

bids/offers and applied both to the continuous‐trading stage and to the implicit‐auction one. If a valid bid/offer or a

partially matched bid/offer passes from the continuous‐trading stage to the implicit‐auction one, it will be taken into

account in the calculation of the maximum number of bids/offers which may be submitted.

BID/OFFER PAGE

On this page, you may view the bids/offers associated with the Participant selected from the drop‐down menu in the

top right section. In particular, if you set a flow date, you will get a drop‐down menu where you may select the

bids/offers to be displayed: regular ones (those normally submitted by Participants); predefined ones; or both.

Depending on whether the session corresponding to the flow date is completed or not, the system will show the

predefined bids/offers (together with regular ones) or the regular bids/offers in addition to those deriving from

predefined bids/offers.

As you may see in the figure, you may set search filters to customise your results.

Figure 21: list of bids/offers

Figure captions

Start date – type of transaction (all) – bid/offer ID – market (all)

End date – bid/offer status (all) – message ID

Flow date

Product – volume … remaining volume – price – accepted price – flow date – market – date – Participant – type – status – bid/offer ID – user –

predefined – Participant’s code

….. sale – matched

…. sale ‐ discarded

…. purchase ‐ discarded

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… purchase ‐ matched

The list separately shows the product traded in bids/offers, the accepted volume and price, the accepted and matched

volumes during the continuous‐ trading stage (bookawqty) or in the market (awqty), the flow date pertaining to the

market day to which the entered bids/offers refer, the type of market (Intra‐Day or Day‐Ahead), the date and time of

bid/offer submission, the Participant concerned, the type of bid/offer, the status, the flag if the bid/offer is predefined

and the Participant’s code.

You may sort the listing by clicking on the header of the column that you wish to sort.

SUBMISSION OF BIDS/OFFERS

Select the type of market and the flow date of the market day for your bid/offer. Attention: if the bid/offer is not

predefined, the only date available for submission will be the one pertaining to the session in the “open” status, i.e. a

session which is not longer in the continuous‐trading status in the order book, but in the auction status (and thus only

for the MGP).

Through the Participant’s code textual field, Participants may associate their bids/offers with an external code. This

field is optional. To set a bid/offer as predefined, check the Default box. Conversely, by checking the Sostituzione

(replacement) box, you may specify that the first of the bids/offers to be submitted will replace the first of the already

submitted bids/offers (for that market session and that Participant).

To enter a bid/offer, you must specify whether it is a demand bid or supply offer, in addition to its volume and price.

By clicking on Ripulisci form (clear form), you may clear all the previously filled‐in fields. If you click on Carica offerte

inoltrate (load entered bids/offers). you will see the entered bids/offers by selected flow date; in particular, if you

select this option, you may change or revoke your bids/offers.

To enter data processing requests into the system, you must click on Firma ed invia (sign and submit), continuing with

acceptance of the submission upon confirmation of your signature certificate.

Figure 22: bid/offer submission form

Figure captions

Participants

Market (MGP) – Flow date…

25

Clear form – Load entered bids/offers – Sign and submit

Participant’s code – Replacement

Type of bid/offer – Price – Volume… gas‐day

Sign and submit

STATEMENT‐OF‐ACCOUNT PAGE

The statement‐of‐account page displays the details of the guarantee for the selected Participant. In particular, the top

section of the page shows the summary data, e.g. amount, reduced amount, available guarantee and guarantee used

in the bids/offers currently included in the order books.

By clicking on the amount value, you will open a table with the details of the available guarantees (including

credit/debit adjustments).

In the lower section, you will always see the financial movements.

Figure 27: statement of account

Figure captions

Export of guarantees – export – refresh

Amount

Reduced amount

Available guarantee

Guarantee used in the order books

Financial guarantees – close – closed guarantees

Movement ID – Participant’s code – movement description – flow date ‐ amount – remarks – date

Financial movements

Movement ID – Participant’s code – movement description – flow date ‐ amount – remarks – date

26

TRADES

On this page, you will view all the bids/offers which have been matched during the continuous‐ trading and implicit‐

auction stages.

You may use the filters to specify the time range of your search and the type of market (MGP or MI).

The photo gives an example of matchings.

Figure 28: matchings

Figure captions

Start date – market (all)

End date

… date – market – volume – price – cash equivalents – matching ID – timestamp

However, a distinction is made between bids/offers matched during continuous trading and during the implicit

auction. Continuous‐trading matchings are individually displayed on two different rows, indicating that each matching

is generated by the system, whenever a bid/offer can be matched with another one.

With regard to the implicit auction, the system takes over all the matchable bids/offers only upon the closing of the

session. Therefore, on the page of trades, the matching will show a single row with the net position of the Participant,

i.e. the position taking into account all the matched bids/offers for that flow date.

MESSAGES

The user and the system communicate with each other through messages. These messages (xml files) describe the

entered transactions and the results of their execution.

Bids/offers may also be entered into the system in the form of messages, as explained in the next paragraph.

On the page presented in the next paragraph, you may submit bids/offers, change existing ones and change their

status (i.e. revoke them). The file formats are described in detail in the Implementation Guide.

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UPLOAD OF XML MESSAGES

This page is very simple. To activate the submission form, click first on the Browse button, select the file of interest

and then click on Upload.

At present, you may upload xml files to submit bids/offers and change their status.

The details of the file formats are reported in the Implementation Guide.

Figure 29: xml file upload form

Figure captions

Select one file to be uploaded

LIST OF MESSAGES

By selecting the Lista messaggi (List of messages) option, you may get all the messages sent and received by the

Participant selected in the drop‐down menu.

In particular, in the “id message” and “id out message” columns, you may view the input xml messages and the output

messages (i.e. the result of the transaction).

Figure 306: list of messages

Figure captions

Participant

(Hide filters…) – export – refresh

Start date

28

End date

Mark

… content – Participant – transaction ‐ processing time

…. Display

Only for bids/offers entered via the web pages of the portal, you may see (by clicking on Visualizza ‐ Display) the signed content and the details

of the certificate that has signed it, as shown in

Figure .

Figure 31: signed content of the message being examined

Figure captions

Message…

Signed content

Type of bid/offer – price – volume (MWh/gas‐day) – remarks – predefined – replacement

Purchase

Certificate details

Issuer

Serial no.

Party

FILE WITH RESULTS FROM MARKET EXECUTION

On the page with the list of messages, you may retrieve the messages concerning the results from market execution;

these results are published whenever the results of bid/offer matching in a session are available.

The first type of messages are the BNs (Bid Notifications), informing Participants about the matchings: when a session

is in the BOOK status (continuous‐trading market session), the BN messages are generated and posted when the

29

matching has been successfully completed. This message is received by both the seller and the buyer. However, if one

of the two Participants is revoked from the PSV before the end of the session containing the above two bids/offers,

then the matching and all other bids/offers submitted by that Participant in that session will be revoked: in this case,

the system generates a new BN file, which is sent to all the Participants involved in the bids/offers; the file will report

the matchings which have been revoked and the reasons for the revocations.

Another general case in which a BN file is generated concerns the MGP only, when the session has been completed. In

that case, for each bid/offer accepted in the implicit‐auction stage, the related BN is generated. Other data about the

BNs are contained in the Implementation Guide.

Each Participant who is authorised to operate in the M‐GAS also receives the MR (Market Result) file, but only for the

MGP session containing the general results from execution of the market (i.e. marginal prices and volumes and

purchase and sale volumes presented to the algorithm). The format of this file is described in the Implementation

Guide.

Documents

MANUAL FOR NATURAL GAS TRADING MARKET PARTICIPANTS€¦ · pages are organised into categories: data, M‐GAS and messages. We will analyse these pages in the following paragraphs